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And there are more than double the number of million-pound properties in Guildford, Surrey than there are across the whole of Wales, researchers found.

Guildford was identified as the top million-pound property hotspot outside London, with 5,889 homes there valued at £1 million-plus.

This was followed by the university hubs of Cambridge (5,530) and Reading (5,421).

But there are 12,552 in the North West, 4,835 in the North East and 6,845 in the East Midlands.

House values rose 3.9 per cent in 2017 — slightly higher than even the most optimistic market analysts predicted in 2016, according to the UK’s biggest mortgage lender Halifax.

Historically, according to Economics website Prime Economics, since 1993, national house prices have risen from an average of £62,333 to £247,000 – an increase of around 400 per cent.

Wales was found to have 2,223 homes worth £1 million or more.

Places with particularly high concentrations of million-pound homes also include Oxford, St Albans, Bristol and Edinburgh.

The research was released to mark the launch of its new property calculator tool - million-pound-calculator.zoopla.co.uk - which gives home owners indications of when the value of their own property may reach the £1m mark.

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London and the South East of England boasts the biggest concentration of property millionaires